Quantitative methods 1
Ms Harmindar Nath, Dr Richard Egudo and Ms Roslyn Steel
6 points
* First semester
* 3 hours per week
* Berwick
* The
subject assumes a mathematical background at about Year 11 (fifth form)
level
Synopsis This subject introduces some of the fundamental mathematical and statistical methods used most commonly in business planning and decision making. Included are basic mathematical concepts, functions and their graphics, exponential and logarithmic functions. Solutions of systems of linear equations and inequations. Arithmetic and geometric sequences; financial calculations relating to simple and compound interest, discount notes, annuities, amortisation, sinking funds and equations of value. Index numbers, especially the Australian CPI and its uses. Statistics - nature of statistical investigations, collection, presentation and interpretation of data; measures of centrality and dispersion; population distributions, the normal distribution; the sampling distribution of the sample mean; statistical inference - interval estimation for the population mean (large and small samples), choosing the sample size, sampling from a small population, basic concepts for hypothesis testing, one-tailed and two-tailed testing of hypotheses, testing an hypothesis about the population mean (large and small samples); introduction to simple linear regression.
Assessment Assignments: 50%
* Examination: 50%
Prescribed texts
Waxman P Business mathematics and statistics 3rd edn, Prentice-Hall, 1993
| Published by Monash University, Clayton, Victoria
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